The new award chart is definitely worse than the old one, with a few exceptions.
In general, access to the C cabin seems to have become more difficult, just as LX's new biz cabin was starting to look good (starting this summer on A330/340)
http://www.flyertalk.com/forum/frown.gif
My favorite award, the intra-Europe 25K C free ticket, is going up to 30K. Some of the new longhaul C/F awards are positively ridiculously priced, especially in light of the limited earning potential (bonuses, etc.)
I'll be cashing in a few of those 25K awards booked as far ahead as possible, expecting to change them (date only, routing is fixed) for, IIRC, 50CHF. QF/TC miles are only good for 3 years anyway.
I'll be keeping a 5 figure balance for quick intra-Europe roundtrips, to be used when I cannot meet the weekend stay requirement on discounted tickets.
With TC's elite requirements for Swiss residents, elite qualifying miles only on LX, lack of direct European flights from GVA (I hate the overcrowded GVA-ZRH shuttles), and skeletal Asia / North America network, Travelclub has become completely unattractive to me. I was hoping it could become my OW FFP, but not in its current state.
Last year's generous promotions, aimed at retaining sceptical SR customers, have given way to a definite cost-cutting atmosphere, IMHO. Here in Switzerland, I have yet to see a single attractive partner special announced this year.
In a way, I am glad Swissair and Qualiflyer, of which I have fond memories, can rest in peace and not be associated with the new products. LX may boast roomier seats than SR, but its service is lacking the aura of self-confidence SR in its prime had (magnanimous agents, genuinely helpful FA's, handling of irregularities, etc.)